Employment Offer Letter between Frederick M. Strader and Michael Boden for Executive Vice President Position
This letter is an employment offer from Frederick M. Strader, President and CEO, to Michael Boden for the position of Executive Vice President — Programs. The offer includes a bi-weekly base salary of $8,656 (annualized at $225,056), a 45% MIP TICA percentage, and a $10,000 annual automobile allowance. The agreement is contingent on Michael Boden's acceptance, as indicated by his signature. The letter outlines the key compensation terms and formalizes the employment arrangement.
Exhibit 10.16
Frederick M. Strader
President and Chief Executive Officer
December 30, 2004
Mr. Michael Boden
3822 Heaps School Road
Pylesville, MD 21132
Dear Mike:
It is with great pleasure that I am extending to you an offer for the position of Executive Vice President — Programs at a bi-weekly base salary of $8,656.00 or annualized at $225,056.00. In addition, your MIP TICA percentage will be increased to 45%. You will receive an automobile allowance of ten thousand dollars ($10,000) per annum payable in accordance with our normal payroll practices.
The Board of Directors and I look forward to the contributions you will make in your new position.
If this offer is acceptable to you, please sign below and return to me.
| Sincerely, |
| Acceptance: |
|
|
|
|
|
|
|
|
| /s/ Frederick M. Strader |
| /s/ Michael Boden |
P.O. Box 126
Hunt Valley, Maryland 21030-0126
(410) 628-6600
Fax: (410) 628-3644
mailto ***@***
